Israeli laser surgery tech company sells for $1.07b.
The deal is valued at $1.07 billion, pending closing adjustments.
By JERUSALEM POST STAFFDoctors performing a surgery via the guidance of a robot. (photo credit: Courtesy)
Israeli-based Lumenis agreed to sell its Lumenis Surgical Business to Boston Scientific,the company announced on Thursday.The Lumenis Surgical Business includes all of the company's proprietary laser and fibers solutions used for minimally-invasive surgery in urology, as well as ear, nose and throat (ENT) procedures.The deal is valued at $1.07 billion, pending closing adjustments.“This acquisition is a tremendous vote of confidence in Lumenis and our global teams,” said CEO of Lumenis Tzipi Ozer-Armon. “In recent years, we have developed and introduced multiple groundbreaking technological solutions that have redefined our industry and opened entirely new market segments."The strong, global backbone of Boston Scientific will reinforce the Surgical team’s ability to continue delivering market-defining innovation, while enabling these solutions to reach many more millions of patients worldwide," Ozer-Armon added. "For Lumenis, this transaction will enable heightened focus on our Aesthetics and Vision customers and increased investment in innovative solutions, as we look to build upon our strong position and accelerate our growth in each of these domains.”Lumenis recently released its MOSES 2.0 laser technology system, which has helped free up hospital beds amid the coronavirus pandemic and ease the burden of healthcare facilities across the world.The system helps improve the efficiency of urinary stones and enlarged prostate treatments using laser energy transmission. The result is "up to 85% greater stone ablation through 120 Hz ultra-speed stone dusting, 20% shorter procedure times," predominately resulting in same-day release from the hospital, the company said in its statement.“The MOSES 2.0 technology provides much faster and more efficient operations, with minimally invasive surgery and no catheter required,” said Director of Endourology and Lithotripsy at Hadassah Ein-Kerem Hospital and Secretary-General of the Israeli Urological Association Prof. Mordechai Duvdevani.“Because of this we can treat far more patients, and much faster. In fact, most are discharged from the hospital on the same day, whereas before MOSES 2.0 a short stay would be required," he added. "At Hadassah Ein-Kerem, there has been a massive load of COVID patients. During an unprecedented public health crisis such as this, this laser technology has been crucial in keeping hospital beds available to those who critically need them.”In terms of prostate treatment, the MOSES 2.0 transforms the clinically validated Holmium Laser Enucleation of the Prostate (HoLEP) therapy, into an outpatient procedure with same-day discharge, catheter-free. The procedures normally result in outpatient release times as well.
“I’ve used the MOSES 2.0 technology during stones and BPH procedures for several years because it is so efficient,” said Dr. Amy E. Krambeck, a professor of urology at Northwestern Medical in Chicago, Illinois. “MOSES 2.0 for BPH enucleates tissue even faster and stops bleeding very quickly, which is important for visibility and postoperative recovery. It allowed me to change my entire practice and patients have been very happy to go home the same day without a catheter. This transformation is even more important now that COVID-19 makes patients put off essential care, while our hospitals move to free up inpatient beds for acute cases. MOSES 2.0 helps make that possible.”
